AURORA, ON, Nov. 7 /CNW/ - Helix BioPharma Corp. today announced that it
has completed a private placement in Europe for gross proceeds of
CAN $5,523,750. Helix issued 3,156,428 common shares and 3,156,428 common
share purchase warrants in the European placement. Each common share purchase
warrant entitles the holder to purchase one common share at a price of $2.45
until March 31st, 2008. Helix intends to use the net proceeds of the placement
of $5.1 million (after finders' fees) to fund the pre-clinical and clinical
development of products in its pipeline and for working capital and general
corporate purposes. This placement brings the total amount raised by way of
private placement in the last 2 months to $9.5 million ($8.8 million net of
finders' fees).
